60 replies to this topic

[tinman1412]

Hi All,

Can someone please advise about the Neil P. Anderson building. I'm looking at leasing a condo there and wanted to know about the location, security, amenities, parking, etc.. Also, are the units up to date?. I have seen several condos at TheTower as well and they look real nice. Can someone compare the two. If the price is equal, would you rather live at the Neil P. or The Tower.

Thanks in advance,

[Big Frog II]

Personally I like the location of the Tower better. I also don't think the parking at the Neil P. is as convenient. Of course there might be a better financial deal at one or the other that trumps what I just said.

[Fort Worthology]

I'm going to go against the grain and say I prefer the Neil P. over the Tower. I have no idea what the situation is over there now, though, with the ownership change and all.

[tinman1412]

I'm looking to lease one of the condos at NPA for $1200 a month which includes all utilities. Is this a good deal?. The condo is about 800 sq/ft. It comes with 2 dedicated garage parking, washer/dryer, a 12 X 6 basement storage space. I have not been able to find anything in this price range. My top concern is security for my wife. Is the NPA in a safe location? Should I jump on this deal. A comparable condo at The Tower is going for $1500 per month, excluding all the utilities.

Please advise

[safly]

IF you want more space for your buck, then try FIRESTONE. They have secure gates and property security (off duty cops). Never had any security problems there, some mgmt. problems but that can happen just about anywhere for a number of reasons (trash, repairs). Utilities included is nice to get, makes one wonder, BUT those same utilities are not that bad at THE STONE. One can also expect a younger crowd at FIRESTONE.

$1200/month should get you their BIGGEST units over there, maybe the ones along Texas St. And they have private garages too.

Plus, I don't think the NPA offers a fitness area.

[tinman1412]

I have looked at the Firestone Apartments. They are OK and I thought was quite pricey. It's units are older since it was built 10 years ago. The NPA is quite new with granite counter tops, berber carpet, etc.. I would have no hesitation picking NPA over Firestone. I just wanted to make sure that the NPA is in a safe area of downtown. I have not seen anything remotely close to $1200 a month with all utilities, 2 parking spaces, basement storage.

[safly]

All of DTFW is SAFE. Have you been here?

For $1200 a month and utilities, I say go for it. But for almost twice the space and a couple hundred dollars more, there are plenty other options.

Sure there is no granite at Firestone, but there is plenty more space (and extra bathroom) to do dining and entertaining with friends. You might as well BUY an NPA unit if you desire newness and other stuff like that. I'm pretty sure their rent will go up mighty handedly in a year or two.

For me the Firestone is one of the NEWER apartments in that area of FW. It's not old and dilapidated that's for sure.

[Okie-JR]

I would say that near the NP is safe. How far do the bicycle cops patrol? Or the guy that rides that 2-wheeled standup thing? I haven't gone over to the NP at night, but wouldn't be afraid to do so. It isn't too much off the heavy foot-traffic areas. (and those areas will expand once the OMNI opens).

[Fort Worthology]

I have to say that I do not like the Firestone apartments. They are unremarkable in every way.

$1200 a month at the Neil P., which is a gorgeous development and gorgeous building, with all utilities, 2 parking spaces, washer/dryer, and all that sounds like a great deal. I pay $1355/mo. for 840 square feet at the Sanger Building which includes 1 parking space and does not include electricity.

The Neil P. is perfectly safe - all of downtown is. I lived in the Electric Building across the street from it for a year and a half and was never afraid of anything.

[Sam Stone]

I know some people who just moved in to the Neil P. They are very happy with it and like it a lot, even better than the Tower. From what I understand, storage/closet space is somewhat limited in some of the units, at least compared to other buildings.

All of Downtown is very very safe.

[John T Roberts]

To echo the sentiments here, all of downtown is very safe. Regarding the safety issues, I would not have a problem living anywhere in downtown.

[safly]

I agree. Security for the most part is not an issue in all of DTFW, unless you park your car in the attached garage for the HPL. Quite a history there from what I know and hear.

[Templeofheaven]

I have to say that I do not like the Firestone apartments. They are unremarkable in every way.

$1200 a month at the Neil P., which is a gorgeous development and gorgeous building, with all utilities, 2 parking spaces, washer/dryer, and all that sounds like a great deal. I pay $1355/mo. for 840 square feet at the Sanger Building which includes 1 parking space and does not include electricity.

The Neil P. is perfectly safe - all of downtown is. I lived in the Electric Building across the street from it for a year and a half and was never afraid of anything.

Kevin, good points. Firestone Apts was cheaply built - the walls are very very thin, even the exterior walls. You can hear the guy upstairs pee. Mgt is responsive to maintenance. Not recommended if you have such a great option at NPA.

Safety is good anywhere downtown.

[tinman1412]

One issue with the condo is that there is literally no closet space. There's also not a dining area so this will require some creativity on our part. The bedroom is quite small, but that's common with any condo. Pluses are storage space in basement, something we really need. 2 garage parking spots for both my wife and I. The condo looks very nice from the inside, but we have a ground level view of their Sanctuary, which has the patio tables and pool area. It's kinda weird because people can see into our condo if we have our window blinds open. I'm having a really tough decision with this one because the Neil. P is kind of secluded on the other side of downtown. It's feels way too quite. Not that I don't like quiet, but I like to step outside the building and see people walking around. The Tower condos are better situated in terms of location I think.

I guess I can't have everything. Monthly rent of $1200 is great with all utilities paid in my opinion. I don't have to worry about turning down the Air Conditioning or Heater when I need it. The Neil P. building seems desserted. I didn't see a single sole when I had a showing at the condo. I know they have trouble selling the units there, but I don't want to live in a ghost town either. The Burnett Park right outside seems nice, but everything else around there is more business. It's a good walk to get to Sundance where all the liveliness is.

I currently live at the Hillside Apartments and the Neil P. is definitely an upgrade. Monthly rent comes out to about the same for both places. Ideally, I would like to be closer to Sundance if not right in the middle of Sundance, but the Tower condo will be closer to $1700 a month. Not sure if I wanto to pay an extra $500. Or should I?. Please help, I'm having such a hard time making a decision, and need to decide by end of Monday. Below are my options.

1) Stay at Hillside Apartments
2) Move to Neil P. Anderson
3) Wait and see if there are condos available at the Tower and pay $500 more than Neil P. and Hillside.

[safly]

Stay at Hillside.

Living IN DTFW is for BALLERS!

[tinman1412]

Well, I do play Basketball if that's what you mean. Haha !!. Just kidding. I don't think you need to be wealthy rich to live downtown. I choose downtown for convenience more than anything else. I can buy a really nice home but it's going to be a good 30 minute drive to work.

[Fort Worthology]

I have always been a huge, huge fan of the job done at the Neil P. It's one of downtown's finest bits of architecture, and I think the finish-out was wonderful. I actually really liked the units that face the Sanctuary and wouldn't mind that a bit.

The Neil P.'s area is busy during the day, thanks to Burnett Plaza and 500 West 7th. It's just a short walk to Sundance Square or SoDo. Like I said, I lived for a year and a half in the Electric Building across the street, and never had a problem with the location. One day, it'll be busier.

Another thing to think about is the plan the city has in place for Burnett Park. It's already attractive, but the city has a great plan in store to rework the park and make it more park-like and less of a business plaza. They're going to make it a very nice destination, get rid of the malfunctioning fountains, level the grass with the granite walkways so you can go anywhere you want comfortably, rework the old Christmas tree, add a recreational sculpture area for kids, and all sorts of other things. The renderings I've seen look good.

[gdvanc]

If you were buying, I'd say to wait since there are characteristics about the current unit that seem to be potentially significant dissatisfiers despite your attraction to living in that part of downtown.

Since you are renting, and since you say the monthly rent would be about the same at the Neil P. as at Hillside, I say give it a shot. Assuming the costs and hassle of moving aren't unreasonable, it sounds like a good way to find out first-hand if this kind of place is for you. See if the "pluses and minuses" are as positive and negative as you think they are. This could be particularly helpful if you think you might buy a unit someday.

On the other hand, if you think other Neil P. units with better views will likely become available soon, that might be worth waiting for.

As for option 3, can you wait for that while renting at the Neil P. with the same flexibility as Hillside? Not sure how different the lease terms would be.

[Sam Stone]

I've heard that the noise from the trains is a major problem at Hillside.

[tinman1412]

The train is noisy, but once you get used to it, it's no longer an issue.

[Keller Pirate]

I can't offer you any informed advice but, you seem to like the Neil P and it sounds like a good deal financially. Since you are only renting I don't see a downside to doing something you want to do. I say go for it. I'm guessing you work in the DTFW area.

Either way let us know what you decide and good luck.

[safly]

Well, I say for $1200 a month, you can RENT a nice size house within a 5 minute drive to DTFW. There is Mistletoe Heights, Berk Place and surrounding neighborhoods.

True, you don't have to be wealthy to live in DTFW, it just seems like you have a problem making up your own mind.
True BALLER'S never have that problem. Kidding here.

What I'm guessing is happening here with that NPA unit is that the owner(s) are waiting for a tenant to reside there and pay a certain amount of money on a 12 monther. Then around 5-10 months from that date they will place it in the investor's market. Get the tenant and FLIP! So you might as well request to speak to the owners and make them an offer, or have first refusals. By having you in their and paying $1200/month for a "supposed" 800 sqft'er, tells an investor that a market is set on someone paying that monthly. So taking into account a $200/month HOA fee (possibly less) and $1,000 month break even point. I'd say that unit should be on the BREAK EVEN market for $150,450 on a 30 year at 7%.

With 20% down on a 15 year 5.5% the monthly should be around $985.00

FREE utilities ($175/month?). Makes me wonder who may own this particular unit. An XTO, ONCOR, or TXU exec? I've heard of FREE water, but utilities? That's a first.

Then again, I could be all wrong here.

[Fort Worthology]

Well, I say for $1200 a month, you can RENT a nice size house within a 5 minute drive to DTFW. There is Mistletoe Heights, Berk Place and surrounding neighborhoods.

Or you could live downtown and not have to drive there. That is attractive to some people.

[UncaMikey]

This sounds like the unit that we looked at over a year ago -- is there a built-in settee thingy around the perimeter of the living area?

I agree that the NP is nicely finished, but we thought that unit was a disaster. NO CLOSETS of any kind, none, zip, nada. No privacy, either, since you look up a bit into the central courtyard, and everyone can see right into your living area. You could close all the blinds, of course, but then it's like living in a windowless space.

We ended up at Lincoln Trinity Bluffs, close to but not exactly downtown. There are pros and cons, not sure I'd recommend it, but 4th floor units that size are around $1000 or less, with closets and views over the river, etc.

[safly]

Ok, I could go off on a tangent here, but then I'm sure John R. is going to step in and recommend that the thread be moved to the "Price of Gas: Alternative Fuels" discussion and then it gets moved over there, and then poor tinman can't find his thread like he can't find his heart (joke). So then I look like the bad guy to this new FORUM fella and then he decides not to accept any of our future invitations for BREWOFFS or WINETASTING events, and possibly your ArchiTrots. Though I do see your point, but fail to concede. The "T" is a nice alternative.

[Fort Worthology]

NO CLOSETS of any kind, none, zip, nada.

Is that really such a big deal, though? I have never thought having tons of closets was a necessity. Serves as an incentive to have less stuff, and whatever you do need you can get a wardrobe and/or dresser for. People lived pre-WWII without giant closets. It's doable. For those who think that way, the Neil P. would work fine.

I kind of liked the units that were level with the Sanctuary, myself.

[UncaMikey]

Is that really such a big deal, though? I have never thought having tons of closets was a necessity. Serves as an incentive to have less stuff, and whatever you do need you can get a wardrobe and/or dresser for. People lived pre-WWII without giant closets. It's doable.

Of course anything is doable, but desirable is another question. I grew up in a pre-WWI house (actually pre-Spanish American War) and while it had some charms, the lack of closet space was not one of them. The rooms were big, at least, unlike the bedroom at the NPA unit; fitting wardrobes and dressers in there would be tough.

We're not talking about "tons of closets" or "giant closets" but rather no closets at all, for $1200/month. People lived pre-WWII without the Internet and health insurance and penicillin and lots of other stuff but that doesn't mean I have to. :-)

As in most things, YMMV, but give me a few closets and a bit of privacy any day.

[tinman1412]

UncaMikey,

Yes, you are talking about the exact unit I'm looking at. I'm having a lot of second thoughts on this one. Yes, it's a nice unit, but the lack of closet space and having a "windowless" condo just makes you want to think twice. Maybe I'm rushing into this. Maybe there's more in downtown that I have yet to see. I think I'm gonna have to back out of this deal for now

[safly]

UncaMikey,

Yes, you are talking about the exact unit I'm looking at. I'm having a lot of second thoughts on this one. Yes, it's a nice unit, but the lack of closet space and having a "windowless" condo just makes you want to think twice. Maybe I'm rushing into this. Maybe there's more in downtown that I have yet to see. I think I'm gonna have to back out of this deal for now

Chalking one up in that WIN column.

YMMV

You Make Me Vomit???

[Recyclican]

In January the FW-ST had reported that this building was for sale; and that the current (or prospective?) ownership had considered leasing some of the unsold units as office space. Can't find a good link to that article, and not sure if this is still the case. Might be worth investigating before signing a residential lease, though.

[fwfrog]

It's been a while since anything was written about living at the Neil P.

Can anyone advise on purchasing a unit here (before I arrange for any kind of management-led tour)?

Although a 2-bedroom would be ideal, I'm guessing they'll be out of my price range. Their website says prices start in the $200Ks -- but I didn't know if they were desperate to sell (or if prices might fall as the year progresses).

A few questions:

• Are all units finished out?
• Is the new ownership stable?
• Are HOA dues still at around $.50/sq. ft?
• I'm guessing no tax freezes, like the T&P, right?
• Any updates on the redesign of Burnett Park?

Reading over the complaints, I think I could deal with the lack of closet space. Also, if parking isn't included, I wouldn't lose sleep. Good bus routes (and eventually a streetcar?) are nearby. Finally, I kind of like the "quiet" location (compared to the Tower). Any chance this might change? (with new businesses, retail, etc. in the works somewhere in the immediate area?)

In the bigger picture, we're in the hunt for a townhome/condo to buy -- but it's hard to find much under $300K with more than 1 bedroom. We didn't like Westview or the T&P mid-rise. The T&P high-rise sold the remaining floor plans we liked. And "bargains" on the Near Southside seem steep for an area that still feels a little dodgy to me. (No offense to anyone who lives there; just my opinion). I wish more (for purchase) residential plans were in the works for the Cultural District -- or along University somewhere. That would be ideal for our family.

[mschrief]

I never got used to the trains running through at 3 a.m. Rattled the windows. I was on 3rd.

[fwfrog]

I never got used to the trains running through at 3 a.m. Rattled the windows. I was on 3rd.

I've lived near freight trains and gotten used to it, but I guess this is a little different. That's okay, as I mentioned we've more or less nixed the T&P from our list.

[Fort Worthology]

Haven't heard much from the Neil P. lately. There's just one unit on MLS, though I assume that's a private owner selling and not the new owners of the building.

(Do take exception with the Near Southside being "dodgy." Fairmount or any of the new stuff just off Magnolia is a fine place to live, in particular.)

[fwfrog]

Haven't heard much from the Neil P. lately. There's just one unit on MLS, though I assume that's a private owner selling and not the new owners of the building.

(Do take exception with the Near Southside being "dodgy." Fairmount or any of the new stuff just off Magnolia is a fine place to live, in particular.)

What's the latest on the park across the street?

[Matt615]

A few questions:
[list]
[*]Are all units finished out?

I visited a couple months back during one of their weekend open houses and they had some units finished out and others that were "white boxes" awaiting an owner before they were finished out. Im sure they would be happy to show you around. Most of the price reductions seemed to be on the larger higher priced units.

[Thurman52]

I thought Neil P was struggling and they were going to consider buying out some units and converting back to offices?

[fwfrog]

I thought Neil P was struggling and they were going to consider buying out some units and converting back to offices?

It would be interesting to know how much they are struggling before I take a look at the units with the sales agent. It seems they still have 1, 2, and 3 bedrooms available in various floor plans.

I wonder if it's a bad investment - or a good opportunity?

[Bradleto]

This is the great and unfortunate "condo" trap, I think.

Someone buys at the front end of a fine project like Neil P., pays what turns out to be one of the highest prices, then has to compete with the owner/landlord to sell their unit against unsold units in the complex. Ouch.

I really liked the Neil P. when my wife and I toured it about 2 years ago. Very well done in most respects, but very pricey when you add up all the costs to live there.

It could be worse: One could be living in a neighborhood built by a mass production home builder where you move in, then need to move a year or so later only to find out you are up against the builder/developer who has 1,000 homes yet to sell. It starts a spiral of destruction where the first buyers in, then having to move say for a job-related relocation, are forced to drop prices below the builder... or go the foreclosure route, then new buyers show up for the less expensive pricing. Rinse and repeat. The spiral continues until the development in the area is saturated. Nasty. And, what they are often "selling" amounts to little more than apartments separated by side yards of 10 or so feet. But, houses are more profitable than apartments, so...

I guess for me, the only really safe residential properties are the ones in "seasoned" desirable neighborhoods. For whatever reason, condos rarely seem to achieve this status. I DO think the Downtown market will work out and be very popular; it is just going to take a long wait, likely a full cycle where prices first decline owing to too much supply for current demand.

Brad

[vjackson]

I guess for me, the only really safe residential properties are the ones in "seasoned" desirable neighborhoods. For whatever reason, condos rarely seem to achieve this status. I DO think the Downtown market will work out and be very popular; it is just going to take a long wait, likely a full cycle where prices first decline owing to too much supply for current demand.

Brad

A realtor told me, with the possible exception of a few projects in Uptown Dallas, to purchase a condo as an investment in DFW is crazy. If you buy, pay the least for it as you possibly can and plan on living there for a long long time before you see any real appreciation.

[Brian Luenser]

I guess for me, the only really safe residential properties are the ones in "seasoned" desirable neighborhoods. For whatever reason, condos rarely seem to achieve this status. I DO think the Downtown market will work out and be very popular; it is just going to take a long wait, likely a full cycle where prices first decline owing to too much supply for current demand.

Brad

A realtor told me, with the possible exception of a few projects in Uptown Dallas, to purchase a condo as an investment in DFW is crazy. If you buy, pay the least for it as you possibly can and plan on living there for a long long time before you see any real appreciation.

If there is one lesson I take from 2008 it is this. Stay clear of all "experts" that claim to predict the future. Anybody that predicted what all went on in 2008 is a billionaire now. (ie,. they shorted bank stocks etc...) Anybody that is still working has proved he cannot predict the future. (Or made his billion and still works for fun.)

At some point home (and condo) prices will approach a bottom. At that point they will be a fantastic investment. The only remaining question then is if we are at that point yet.

BTW: I would not lose any money on my downtown condo if I sold today, after owning for 2.5 years. (I know this more than a homeowner would as I have so many near perfect comps that have sold very recently.) There are very few (Maybe no) House owners that can make the same claim. (I'm not saying there are not many homeowners that think they can sell their house for what they paid for it.)

I am glad I did not buy a unit in the Neil P. a few years ago. Today, they are looking much more attractive.

I did not buy my condo as an investment. I plan on living in it until I die, and then my wife can throw my carcass over the balcony. I warned you about walking beneath my unit.
I bought my unit because it was worth a lot more to me than what it was selling for and that has not changed a bit. In fact I would have been willing to have paid more for it at this point.

[fwfrog]

Hmmmm...

You both make very strong arguments. I've also felt that the condo market in Fort Worth can't meet the demand (especially in today's economy). I'm hoping to be one of those people who buys once the prices tumble. Everything seems to start around $300,000 - give or take. I just can't swing that right now.

If there are no safe bets in Fort Worth - are there at least "less-risky" areas in your opinion? We've looked downtown, on the Bluffs, in the Cultural District, near University, on the Near Southside. Well, just about everywhere, I guess! What do you consider a "seasoned" desirable neighborhood?

[cberen1]

If there are no safe bets in Fort Worth...

I think that's why they're called bets. None of them are completely safe.

Your biggest risk in this market, I think anyway, is buying a house where low-ball developers are still building (suburbs). The new construction depresses resale value. Although there are bargains and they are unlikely to lose value.

If $300K is out of range I'm not sure what to tell you. You'll have to make some sacrifices on condition to stay near downtown and be in that range. I'd start with Fairmount, Mistletoe Heights, or Arlington Heights.

[David Love]

ANY real estate purchase is a risk, your only option is to do your homework then make the best educated decision you can.

I know people in both the Florida and California markets where segments are in the 70% down from their peek range. Texas in general has been fairly stable with all things considered, I'd guess, more due to the fact that Texas didn't see the HUGE speculative increases FL and CA experienced over the years.

Condos, townhouses, suburb cracker boxes, brand new or historic, each can have very unique benefits and just as easily serious draw backs, but the net result all depends upon the person making the decision to buy.

[Keller Pirate]

Some pretty good advice posted above that I would concur with. I will add another .02 that isn't worth that much.

My personal opinion is, that given the downturn, property is still a way from hitting bottom. If I was moving to a new area or already renting, I think I would continue to rent for a while longer and see what happens. I am in the same position monee is, I own my home and don't plan on going anywhere soon, so my motivation probably isn't the same as yours. However, looking at the Neil P won't cost you anything and you can ask the sales people any questions and make your own judgement about their answers.

If you are a gambler, here is a downtown condo that will be up for auction Saturday with at least a good opening price.
http://www.ushomeauc...?...481&start=0

[David Love]

WOW... I live here and I wasn't aware of that one, good catch, but kind of depressing.

---

People are truly feeling the pain all over, even though the FW in DFW seems to have had some isolation to much of the pain up to now, with Lockheed's Fort Worth production in the budgetary cross hairs, who knows what's next. It could be just a matter of time before more areas of Tarrant County begin to experience some of the more serious results of an economy in crisis.

Just one more thing to factor into the decision making equation, “what segment of the economy do you rely on for your income?” Then you have to ask “what segments are more vulnerable to this economy, then which are safer over the long haul?”

Think it still comes back to what brought you here, …why do you want to live there? If it’s just because you’re looking for a good return on an investment you’re probably asking the wrong crowd.

If you’ve found yourself in the same situation as many of the people I now know, first attracted to the city, the people, the structure itself, the history, the actual location, the excitement of “all” of the possibilities, the whole idea of living there. Then you’ve already dealt with many of the decisions that have led many before you to move downtown, and if you’re like me, “I can’t speak for everyone else,” then you’ll use the information you find here and elsewhere to either convince those your trying to, or to negotiate a better price for the place you plan to make your future home.

[fwfrog]

Even if we find something we can afford, it seems these crippling HOA dues will do more damage than anything else. (Not to mention rising property taxes.)

[Brian Luenser]

Even if we find something we can afford, it seems these crippling HOA dues will do more damage than anything else. (Not to mention rising property taxes.)

Consider the HOA dues fully if you are comparing to renting someplace. If you are comparing this to buying a home, in my opinion the cost of HOA dues are more than made up in other ways. Mostly, cheap insurance, cheap utilities including no trash pickup, very low electricity/gas and very low water, no security monitoring costs, no landscaping/ swimming pool costs and mostly no what I call "Home Depot" expenses. I am sure I averaged 200 bucks a month at Home Depots when I owned a home. (In fact it may be no coincidence that Home Depot stock has been falling ever since I sold my house.) And don't forget how much less driving you might have to do. I walk to so many places and then it is closer and cheaper for me to drive other place both being close and right on the major highways. (30/35/121) Not to mention I now take the train to Dallas and buses many places. And I could avoid a nursing home for many years when I get old. (Older?) I don't have a single step in my home, I live walking distance to everything (I plan to sell my last car at 65) and then my costs will be really cheap without car insurance/payments/upkeep/depreciation. I am close to doctors and hospitals. In fact my building is full of medical people including doctors on both sides of my condo. (Help, I've fallen and can't get up!) We also have defibrillators.

Living downtown is surely not for everybody, but I think it is for more people than they know...

[fwfrog]

If you are comparing this to buying a home, in my opinion the cost of HOA dues are more than made up in other ways. Mostly, cheap insurance, cheap utilities including no trash pickup, very low electricity/gas and very low water, no security monitoring costs, no landscaping/ swimming pool costs and mostly no what I call "Home Depot" expenses. I am sure I averaged 200 bucks a month at Home Depots when I owned a home.

And don't forget how much less driving you might have to do. I walk to so many places and then it is closer and cheaper for me to drive other place both being close and right on the major highways. (30/35/121) Not to mention I now take the train to Dallas and buses many places.

And I could avoid a nursing home for many years when I get old. (Older?) I don't have a single step in my home, I live walking distance to everything (I plan to sell my last car at 65) and then my costs will be really cheap without car insurance/payments/upkeep/depreciation. I am close to doctors and hospitals.

All excellent points. We budget about $200 a month for our home maintenance right now. It usually gets eaten up in large chunks once a year or two (new plumbing, new A/C, heater repair, etc.) Our other utilities are already pretty low (1100 sq. ft house), so I'm not sure how much we'd save. We'd probably look into a similar sized condo. (And we don't have security/landscaping/pool expenses to deal with at the present. Although it'd be nice not to have to fuss with lawn care anymore!)

Our family members all work/attend school within 3 miles of our house. So if we're not already on the bus, we're sharing our single (paid-for) car. Sadly, HOA dues are more expensive than having a new car payment.

And although I think there's nothing wrong with raising a family in a condo/townhome setting, I'd be interested to hear from anyone who's doing so (or has done so). You typically think of urban dwellers as empty-nesters or single men--and not couples with a baby or child in tow.

I agree with David's reasons for wanting to live in this environment (in a historic building, etc.) It just seems a bit out of reach for us at the moment.

[fwfrog]

Does anyone know how parking works at the Neil P?

Upon talking with the sales agent, I was told that you could rent a covered space in the parking garage next door (the 7th floor connects to the Neil P directly). This option would run you somewhere under $200 a month.

I was told that residents who don't opt for the covered parking, "park down below". I couldn't get a clear answer if this meant parking was included in another lot somewhere -- or if residents parked on the street, underground, etc.

There's ground-level "visitor" parking in the garage next door. We were told that many Neil P residents park here illegally with no hassles (as no one ever checks the lot). This doesn't seem like a good long-term option to me.

Can anyone advise?